QUESTION ON How to Transfer a Company’s Contractors License to Another Company
My question has to do with a corporation using the general contractors license of someone and that person not having to be involved with the everyday operations such as pulling permits etc. Also, what percentage of the company would he need to own or what % of the shares ? Any information would be greatly appreciated
– Al, Florida, USA
In the state of Florida, the person holding the contractors license, referred to as the “qualifying agent”, is ultimately responsible for, among other things, all construction field work at all sites. This would include the pulling of permits.
In order to engage in construction contracting in Florida, corporations are required by statute to apply to the Department of Business and Professional Regulation through a qualifying agent for a Qualified Business License. The qualifying agent must be a certified or registered contractor and is typically an employee or manager of the company. He or she does not need to be a shareholder, but you will have to disclose the company owners’ names and percentage of ownership on the application for the Qualified Business License.
In addition to construction field work, the primary qualifying agent is responsible for the supervision of all business operations as well as financial matters, both for the company in general and for each specific job. Alternatively, a company may designate another individual as a “financially responsible officer”, subject to approval by the Construction Industry Licensing Board.
A corporation may also designate a “secondary qualifying agent”. A secondary qualifying agent is responsible only for the supervision of field work at sites where his or her license was used to obtain the building permit and for any other work for which he or she accepts responsibility. The secondary qualifying agent, unlike the primary qualifying agent, is not responsible for the supervision of financial matters.
For the most up-to-date information on Florida business licensing or to obtain an application for a Qualified Business License, visit http://www.myflorida.com and click on Business.
Best of luck!
Recommended Resources on How to Become a Contractor:
- How to be Your Own General Contractor
- Construction Business Management: What Every Construction Contractor, Builder & Subcontractor Needs to Know
- Managing a Construction Firm on Just 24 Hours a Day
- Running a Successful Construction Company (For Pros, by Pros)
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